American rapper, Jay Z has added an enormous pile of cash to his already massive fortune after selling a significant stake from his music streaming services, Tidal, and his champagne brand, Armand de Brignac.
As reported on eelive.ng, in his second recent major deal, Jay-Z inked a deal to sell a majority stake in Tidal to Jack Dorsey’s mobile payment company Square for $297 million.
Jay Z netted out $149 million in cash and stock—and got a board seat—after buying back 33% of Tidal from T-Mobile earlier this week and then selling that and the third he already owned.
Tidal’s sale comes a week after he sold half of his Armand de Brignac champagne to LVMH in a deal that valued the luxury liquor company at about $640 million.
The two deals however helped lift the fortune of Jay Z to $1.4 billion, up from $1 billion, a 40% increment.